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Republika ng Pilipinas Kagawaran ng Pananalapi
Kawanihan ng Rentas Internas For Corporations and Partnerships
Quarterly Income Tax Return
BIR Form No.
October 2007 (ENCS) No. of sheets attached 10 Telephone No.
Fill in all applicable spaces. Mark all appropriate boxes with an “X”. Calendar Fiscal 3 Quarter 4 Amended Return? 5 1 For the 2 Year Ended ( MM / YYYY ) 1st 2nd 3rd Yes No Part I Background Information 6 TIN 7 RDO Code 8 Line of Business 9 Taxpayer's Name
11 Registered Address 13 Are you availing of tax relief under Special Law / International Tax Treaty? Part II Declaration This Quarter 15 Sales/Revenues/Receipts/Fees 16 Less: Cost of Sales/Services
15A 16A 17A
14 ATC Yes No If yes, specify ComputatIon of Tax EXEMPT Special Rate
15B 16B 17B 18A 19B 20B 21A 22A 23A 24A
TAXABLE Regular Rate
15C 16C 17C 18B 19C 20C 21B 22B 23B 24B 25B
17 Gross Income 18
Add: Other Non-Operating and Taxable Income L
19A L 20A
19 Total Gross Income 20 Less: Deductions
21 Taxable Income This Quarter 22 Add: Taxable Income from Previous Quarter(s)
23 Total Taxable Income to Date 24 Tax Rate (except MCIT Rate)
25 Income Tax (Other Than MCIT)………….. ……. ……………………………………………….. 25A 26 Less: Share of Other Agencies (RA 7916/8748, etc)……………………
27 Minimum Corporate Income Tax (MCIT (see schedule 1) …………………….…………….……….………… 28 Tax Due 28A Tax on transactions under Regular Rate (Normal Income Tax or Minimum Corporate Income Tax whichever is higher)……….. 28B Less: Unexpired Excess of Prior Year's MCIT over Normal Income Tax Rate (deductible only if the quarterly's tax due is the normal rate)……………..…………………………….. 28C Balance (Item 28A less Item 28B)…………………………………………………………………………… 28D Add: Tax Due to the BIR on transactions under Special Rate (25A less 26)…… ……………. 28D 29 Aggregate Income Tax Due (Sum of Items 28C and 28D)…………………………………………………. 30 Less: Tax Credits/Payments 30A Prior Year's Excess Credits - Taxes Withheld 30B 30C 30D 30E 30F 30G 32
32A 29 30A 30B 30C 30D 30E 30F 30G 31
Tax Payment(s) for the Previous Quarter(s) of the same taxable year other than MCIT MCIT Payment(s) for the Previous Quarter(s) of the same taxable year Creditable Tax Withheld for the Previous Quarter(s) Creditable Tax Withheld Per BIR Form No. 2307 for this Quarter Tax paid in Return Previously Filed, if this is an Amended Return Total Tax Credits/Payments (Sum of Items 30A to 30F) Penalties Surcharge
31 Tax Payable/(Overpayment)(Item 29 less Item 30G) Add: Interest
33 Total Amount Payable (Overpayment)(Sum of Items 31 and 32D)
We declare, under the penalties of perjury that this return has been made in good faith, verified by us, and to the best of our knowledge and belief, is true and correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof. 34A President/Vice President/Principal Officer/Accredited Tax Agent/ (Signature over printed Name) Title/Position of Signatory
Tax Agent Acc. No./Atty's Roll No. (if applicable)
34B Treasurer/Assistant Treasurer (Signature over printed Name) Title/Position of Signatory TIN of Signatory Stamp of Receiving Office/AAB and Date of Receipt (RO's Signature/ Bank Teller's Initial)
TIN of Signatory Date of Issuance Date of Expiry D e t a i l s of P a y m e n t Date Number MM DD YYYY
35C 36C 37B 38C 35D 36D 37C 38D
Part III Particulars 35 Cash/Bank 35A Debit Memo 36A 36 Check 37 Tax Debit Memo 38 Others
Drawee Bank/ Agency
35B 36B 37A 38B
Machine Validation/Revenue Official Receipt Details (If not filed with the bank)
October 31. 2005 . GOCC. Foreign Currency Deposit Units (FCDU's) a. Proprietary Educational Institution whose gross income from unrelated trade. January 1. Non Stock-Non Profit Hospitals a. Minimum Corporate Income Tax IC 041 5. 2008 January 1.October 31. 2005 November 1. 2005 November 1. 2009 b. On Taxable Activities Tax Rate Tax Base IC 010 1. 2005 . Minimum Corporate Income Tax IC 030 2. 2005 . 2008 January 1. Exempt Corporation a. 2008 January 1. 2009 IC 191 6. International Carriers IC 101 3. 2005 November 1.October 31. General Professional Partnership 9. 2005 November 1. 2005 November 1.Quarterly Income Tax Return For Corporations and Partnerships GUIDELINES AND INSTRUCTIONS .5% 10% 10% On Taxable Income from within the Philippines On Gross Income Gross Philippine Billing On taxable Income On Gross Taxable Income on Foreign Currency Transaction not subjected to Final Tax On Taxable Income Other Than Foreign Currency Transaction On Gross Taxable Income on Foreign Currency Transaction not subjected to Final Tax On Taxable Income Other Than Foreign Currency Transaction 32% 35% 30% 10% 32% 35% 30% * PLEASE REFER TO REVENUE DISTRICT OFFICES BIR Form No.December 31.October 31. 2005 .December 31. 2008 January 1. On Exempt Activities b.December 31. Minimum Corporate Income Tax IC 080 2.PAGE 2 Computation of Minimum Corporate Income Tax (MCIT) for the Quarter(s) 1st Quarter 2nd Quarter 3rd Quarter Total Total Gross Income (except Gross Income Taxable under Special Rate) for MCIT Schedule 1 Tax Rate Minimum Corporate Income Tax (to Item 27) ATC Description DOMESTIC CORPORATION 2% Tax Base ATC IC 020 Taxable Income from All sources Gross Income On Taxable Income from All sources IC 055 IC 011 IC 010 IC 021 Tax Rate Description 6. 2008 January 1. January 1 .December 31.December 31. 2009 IC 040 4. In General a.1702Q . 2008 January 1. 2009 IC 055 b. Minimum Corporate Income Tax 32% 35% 30% 2% 10% 32% 35% 30% 2% 0% *same rate as in 1a exempt On Taxable Income from All Sources On Gross Income On Taxable Income from all sources 32% 35% 30% 2% 10% Taxable Income from All sources Gross Income On Taxable Income from All sources 32% 35% 30% 2% 32% 35% 30% 2% 32% 35% 30% 2% Taxable Income from All sources Gross Income On Taxable Income from All sources On Gross Income On Taxable Income from Proprietary activities On Gross Income 8. 2005 . Proprietary Educational Institutions a. Agencies & Instrumentalities a. Minimum Corporate Income Tax c. 2008 January 1. Taxable Partnership a. In General a. Minimum Corporate Income Tax IC 031 3.October 31. Regional Operating Headquarters* 4. January 1 .October 31.October 31. 2009 b.business or other activity exceeds fifty percent (50%) of the total gross income from all sources. 2005 November 1. January 1. 2005 .October 31.December 31.December 31. 2005 November 1. Minimum Corporate Income Tax 7. January 1 . Offshore Banking Units (OBU's) a. 2005 . National Gov't & LGU's a. 2008 January 1.BIR FORM 1702Q (ENCS) . 2009 b. 2005 .December 31. January 1 . January 1. 2008 January 1. 2005 .business or other activity exceeds fifty percent (50%) of the total gross income from all sources. January 1 . 2009 32% 35% 30% 2% 2. 2009 b. January 1 . Corporation covered by Special Law* RESIDENT FOREIGN CORPORATION IC 070 1. 2005 November 1.October 31. Non Stock-Non Profit Hospitals whose gross income from unrelated trade. 2009 IC 055 b.December 31. 2005 November 1. Corporation covered by Special Law* IC 190 5.
The MCIT shall be imposed whenever such corporation has zero or negative taxable income or whenever the amount of minimum corporate income tax is greater than the normal income due from such corporation. Penalties There shall be imposed and collected as part of the tax: 1. Note: All Background information must be properly filled up. The quarterly income tax return does not have to be accompanied with Account Information Form and/or Financial Statements. to file annual income tax return/annual information return (Form 1702) with Audited Financial Statements. associations (except foreign corporation not engaged in trade or business in the Philippines and joint venture or consortium formed for the purpose of undertaking construction projects or engaging in petroleum. For members of the Philippine Bar (individual practitioners. and a. geothermal and other energy operations). and 5. 2008 ------35% January 1. In places where there are no AABs. B. In places where there are no AABs. Where the return is filed with an AAB. the return shall be filed directly with the Revenue Collection Officer or duly Authorized City or Municipal Treasurer within the Revenue District Office where the taxpayer is required to register/which has jurisdiction over the location of the principal office of the “CORPORATION” filing the return. 1. on any unpaid amount of tax. The return shall be filed in triplicate copies by the president. 2 and 3 refer to transaction period and not the date of filing this return. d. if any § Box Nos. In case a false or fraudulent return is willfully made. and b. The machine validation shall reflect the date of payment. The return shall be filed with any Authorized Agent Bank (AAB) located within the territorial jurisdiction of the Revenue District Office where the taxpayer is required to register/which has jurisdiction over the location of the principal office of the “CORPORATION” filing the return. § TIN = Taxpayer Identification Number ENCS . For CPAs and others (individual practitioners and members of GPPs). 2. A surcharge of fifty percent (50%) of the tax or of the deficiency tax. if any. Bank debit memo number and date should be indicated in the return for taxpayers paying under the bank debit system. vice-president or other principal officer and shall be sworn to by such officer and by the Treasurer or Assistant Treasurer. a.2 Certificate of Accreditation Number. 4. TINs. § The last 3 digits of the 12-digit TIN refers to the branch code. Interest at the rate of twenty percent (20%) per annum. Failure to pay the deficiency tax within the time prescribed for its payment in the notice of assessment. Attachments Required 1. if applicable. Failure to file any return and pay the amount of tax or installment due on or before the due date. branch code. taxpayer must accomplish and submit BIRprescribed deposit slip.1 Taxpayer Identification Number (TIN). the name of the bank. The general professional partnership is not required to file quarterly income tax return/quarterly information return. Willful neglect to file the return within the period prescribed by the Code or by rules and regulations. for each of the following violations: a. or b.Who Shall File Every corporation. members of GPPs). payments shall be made directly to the Revenue Collection Officer or duly Authorized City or Municipal Treasurer who shall issue Revenue Official Receipt (BIR Form 2524) therefor. Normal Rate of Income Tax The regular rates of income tax are as follows: January 1 to October 31. b. b. Unless otherwise authorized by the Commissioner. Certificate of Creditable Tax Withheld at Source (BIR Form 2307). Certificate of Income Payments not Subject to Withholding Tax (BIR Form 2304).1 Taxpayer Identification Number (TIN). in case any payment has been made on the basis of such return before the discovery of the falsity or fraud. Duly approved Tax Debit Memo. or the full amount of tax due for which no return is required to be filed on or before the due date. c. § All returns filed by an accredited tax agent on behalf of a taxpayer shall bear the following information: A. The computation and the payment of MCIT. if applicable. teller’s code and teller’s initial. It is required. addresses and shares of each of the partners. The AAB receiving the tax return shall stamp mark the word “Received” on the return and also machine validate the return as proof of filing the return and payment of the tax by the taxpayer. and Date of Expiry. 2005 ---------------------32% November 01. government-owned or controlled corporations. 3. 2. Certificate of Tax Treaty relief. shall apply at the time of filing the quarterly corporate income tax. Summary Alphalist of Withholding Agents of Income Payments Subjected to Withholding Tax at Source (SAWT). For EFPS Taxpayer The deadline for electronically filing and paying the taxes due thereon shall be in accordance with the provisions of existing applicable revenue issuances. 2005 to December 31. 2009 and onwards ----------------------30% Minimum Corporate Income Tax (MCIT) A minimum corporate income tax (MCIT) of two percent (2%) of the gross income as of the end of the taxable year (whether calendar or fiscal year. Compromise penalty.2 Attorney’s Roll Number or Accreditation Number. When and Where to File The corporate quarterly declaration shall be filed with or without payment within sixty (60) days following the close of each of the first three (3) quarters of the taxable year whether calendar or fiscal year. A surcharge of twenty five percent (25%) for each of the following violations: a. if applicable. Date of Issuance. Every general professional partnership shall file a return of its income setting forth the items of gross income and of deductions and the names. partnership no matter how created or organized. amount paid and transactions code. 4. from the date prescribed for the payment until the amount is fully paid. 3. agencies and instrumentalities shall render a true and accurate income tax return in accordance with the provisions of the Tax Code. however. depending on the accounting period employed) is hereby imposed upon any domestic corporation and resident foreign corporation beginning the fourth (4th) taxable year immediately following the taxable year in which such corporation commenced its business operations. joint stock companies. coal. respectively. When and Where to Pay Upon filing of this return. Failure to pay the full or part of the amount of tax shown on the return. the total amount payable shall be paid to the Authorized Agent Bank (AAB) where the return is filed. filing a return with a person or office other than those with whom it is required to be filed. which the bank teller shall machine validate as evidence that payment was received by the AAB. if applicable. joint accounts.